Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

I doubt that he owns any of his properties. They are probably all owned by his offshore company.

Whats the difference between a trust fund and an off shore company?


edit: In practical terms.

If you have the time well worth watching this, I haven't stopped laughing.

Ed Miliband is questioned by teenagers: Live
Live coverage as the Labour leader is quizzed by teenagers in ITV News' leaders debates

By Ben Riley-Smith, Political Correspondent5:30PM GMT 08 Dec 2014
• Ed Miliband will discuss jobs, health, democracy and immigration
• Debate is using Twitter hashtag #LeadersLive as Miliband promises to give 'straight answers'
• Last time on leaders live Nigel Farage tears up sex education policy on live TV
18.50 We'll leave it there for today.
Thanks again for tuning in.
18.44 Quick round-up of comments
Ed Miliband told viewers he hasn't taken drugs but has read about cannabis, saying he was against decriminalisation. He defended Labour's position on privitisation in the NHS, saying the Government's approach is different from the increased free market involvement that happened under Labour, which was all about shortening waiting times.


On abortion, he said women terminating pregnancies shouldn't be intimidated by protesters. He said it is time to devolve more powers to England, lower tuition fees and call out Ukip's xenophobic language.
There were also the expected repetitions of Labour policy - use a mansion tax to fund more NHS workers, use bank bonuses to fund a youth employment guarantee and reform "ridiculous" PMQs.
Miliband also announced that a Labour government would expand the franchise to 16- and 17-year-olds in time for the 2016 London Mayor elections - the line Labour are pushing as the newest revelation from his appearance.


There was also one more piece of vital new information, Miliband's favourite cheese: "Cheddar".
18.35 GRILLING ENDS
18.30 English devolution must happen
Miliband calls for more devolution for England. "We've done it in Scotland, we've done it in Wales, but we've got to do it in England," he says.
Asked by one panel member why gay people still cannot give blood, he says: "We've got to look at the ways which we can make it happen. I'll take it away and come back with a good answer."
On tuition fees, Miliband says he will "lower" them but has "learnt from Nick Clegg" and will ensure the party has a properly "costed" policy before announcement.
18.28 Coalition has been "mean-minded" to asylum seekers
Miliband on Ukip: "I think they are playing on people's anxieties. I think they have the wrong solution."
And on refugees: This Government has shown "incredible mean-mindedness" on refugees seeking asylum.
A poll of viewers suggests 51 per cent support what Miliband has been saying about immigration.
18.24 Count migrants in and out of the country
Miliband says it is a "real issue" that immigrants are undercutting low-paid British workers. He also warns against making promises you can't keep - a reference to David Cameron's pledge to bring net migration below 100,000 a year before he took office. (It is currently way above 200,000.)
Miliband calls suggestions from some Ukippers that Lenny Henry should go back to Africa "disgusting and outrageous", adding they should be called out when expressing those sentiments. However he says having concerns about immigration is not racist.
On border controls, he says: "I do think people should be counted in and out."
18.19 TOPIC 4: IMMIGRATION
18.16 Miliband: My favourite cheese is cheddar
(That question from a Tweeter, naturally.)



18.09 I'm still the old Ed Miliband!
Miliband has taken a prolonged grilling on Labour's position on data protection. In particular, there is frustration from one questioner that the party is not more angry about the GCHQ revelations which came from the Edward Snowden leak.
"I understand you concerns about civil liberties and I understand your concerns about data protection," Miliband says, but references the killers of Lee Rigby using social media to discuss potential terrorist acts. "Think of Lee Rigby's family," he says, pointing to the important of monitoring data for counter-terrorism.
"Where is the old Ed Miliband?" asks one exasperated panel member who wants him to be more radical about data protection. "I'm here!" Miliband responds.
18.00 TOPIC 3: DEMOCRACY
Miliband reveals he wants to expand the voting age to 16- and 17-year-olds in time for the London 2016 mayoral election. He says Scottish independence debate was a great example of how reducing the voting age can electrify politics.
17.55 Comments are piling in.
There's a live stream of comments pouring in next to the screen broadcasting this debate online.
"The Labour party privatised the NHS Ed, and now you are backtracking. You are frankly a fraud," chips in one commenter.
"Why is he so reluctant to distance himself and criticise the last Labour government?" writes another.
Many, you will be unsurprised to learn, are unprintable


17.51 'I haven't taken drugs'
Miliband is asked about his experiences of drug taking and how it effects his view on drugs policy.
"I haven't taken drugs," he says. "What about alcohol?" someone shouts. "I'm not teetotal," he admits.
The Labour leader adds: "I'm not in favour of decriminalisation of, for example, cannabis. ... I think there are mental effects of cannabis that people maybe didn't realise a decade ago."
He says keeping the criminal sanction for drugs like cannabis is "definitely sending a message" to those considering use, adding that making drugs legal "won't make it better".
17.49 TOPIC 2: NHS
Miliband cites the mansion tax, which Labour has said will fund extra nurses. "You'll have seen Myleene Klass doesn't like that so much," he says, referring to the mansion tax. "She gave me a hard time, but it's the right thing to do."
17.48 3 in 4 agree with Ed
A snap poll of viewers suggests three in four agree with what the Labour leader is saying. "So far so good," he says.
17.45 'PMQs is ridiculous'
"Prime Minister's Questions is ridiculous," says Miliband. He says "most people involved" think it is just people "shouting at each other" and calls for reform.
He also urges young people to input into Labour Party policy: "I don't have all the answers."
"I'm not even saying vote for me and on my own I'll change the country," he says, adding he needs the "voice of young people" to help shape his government if he wins office.
17.36 Don't let MPs get a big pay rise
On the politicians' wages, Miliband says he is not going to be part of a Government that gives a big pay rise to MPs while nurses are suffering financially.
However he adds: "I'm not in favour of cutting MPs pay," saying that people thinking about becoming a politician should "realise it's a decently rewarded job".
17.35 How will you pay for new jobs?
With a banks bonus, Miliband says - Labour will use those profits to fund new jobs for young people.
Will it really work, one of the panel asks. "100 per cent," he says.
"One thing people are thinking at the moment is that it seems like ordinary people are paying the price for the financial crisis," Miliband says, adding Labour's plan to tax banking bonuses is "costed" and ready to go.
17.31 TOPIC 1: JOBS
Miliband outlines his vision in 60 seconds. It's familiar stuff, with a focus on quality as well as quantity of jobs.
Today too many jobs are "insecure, low paid and frankly that's not good enough," Miliband says.
17.30 WE'RE OFF
"If you don't do politics, politics will do you," says the presenter as the camera pans in. A panel of youngsters "with an online reach of millions" is watching, reading tweets and posing questions to Mr Miliband.
17.25 Miliband speaks ahead of appearance
"The 2015 General Election is going to be hugely important for the future of Britain – and particularly for young people. Leaders Live will give young people a chance to ask political leaders direct questions and get straight answers. I’m really looking forward to being involved," Miliband said.
17.00 Ed Miliband vs The Young
Good afternoon and welcome to Ed Miliband's live grilling from an audience of youngsters. The Labour leader today becomes the latest party head to face 'Britain's youth' in a Q&A series being run by ITV online called Bite the Ballot.
Nigel Farage was up last week. He managed to rip up Ukip's sex education policy live on air, as Matthew Holehouse reported, suggesting he had "never advocated" a ban on sex and relationship education for primary school-aged children announced by his deputy just months earlier.
Miliband has picked jobs, democracy and health - seen by party strategists as a major strong suit for the election campaign to come - as his three topics for discussion, while the audience have plumped for "immigration" as the wildcard subject.
The format sees an audience of 16- to 24-year-olds debate Mr Miliband on those topics. Immigration in particular could be an interesting one, with the Labour leader having to perform the tightrope of sympathising with those who have concerns while not "out-Ukipping Ukip", a pledge he made at one recent high-profile speech.
Nick Clegg is up next week, followed by the Prime Minister at an unconfirmed date. We'll be sharing the highlights from Mr Milband's appearance over the next half an hour.

52488 - plenty!

Can you do the honours c?

Max - Just go to Telegraph on line.

The simple answer is that they are completely different and have no connection.

CC, not you. Small c.

Re: Trust funds and off-shore vehicles.

Yes, no doubt they are different in formation, but their purpose is similar, tax avoidance.

it's dead easy to set up an offshore company, though it is now much more difficult to set up an offshore bank account

a proper accountant may tell you differently, because assuredly i am not but ....

a trust fund is governed by all sorts of rules and regulations, not least being that the settlor cannot interfere once it is in place ..... it is run by appointed trustees who have obligations to the ultimate beneficiaries

tiresomely, unless you are an accountant, the rules for trusts get changed every 5/10 years

btw, i have no trusts either as beneficiary or settlor

52495
and what is wrong with that?
however, once any money is brought back on-shore, it is then taxed

as has often been said, if you don't like the rules, then campaign to have them changed

Nothing wrong in itself.

Except, as you just outlined, not easy to do in practice for ordinary folk.



The main reason for asking was because a newspaper a few years ago, pointed out that Cameroon's country seat is in fact held in a trust fund.

ie, He gets to use it, but with no tiresome death duties or inheritance taxes etc.

and who are not "ordinary folk"?

particularly with trusts - and believe me there are plenty of pitfalls, not least when the rules get changed for the umpteenth time - they are probably not worth setting up unless you have a pretty tidy pile, as they are expensive to operate and quite often will not work out in the long run in quite the way hoped when initiated

Time running out Tory Boys........

Ashcroft National Poll: Con 30%, Lab 31%, Lib Dem 8%, UKIP 19%, Green 5%


Mansion Tax just around the corner Hays, and dont worry Labour have had there lawyers checking it out to avoid loopholes. There will be NONE.

YouGov/Sun – CON 34%, LAB 33%, LDEM 6%, UKIP 15%, GRN 6%

Populus – CON 33%, LAB 36%, LDEM 8%, UKIP 15%, GRN 4% (tabs)
Ashcroft – CON 30%, LAB 31%, LDEM 8%, UKIP 19%, GRN 5% (tabs)
YouGov/Sun – CON 34%, LAB 33%, LDEM 6%, UKIP 15%, GRN 6%

Haze and Mauel's morning ritual!

Xmas party at No 10.

Ukip to snatch two million Conservative voters in next election

http://www.express.co.uk/news/politics/545335/Ukip-take-two-million-votes-from-Conservative-Party-next-election